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Your World With Neil Cavuto

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Washington 15, Boehner 13, Us 7, Harry Reid 7, Geico 4, New York 3, Judge Napolitano 2, Scott Walker 2, Napolitano 2, Mark Levin 2, Norisk 2, Jasmine 2, Grandma 2, Schumer 1, Biden 1, Fabio 1, Cantor 1, Ut 1, Ing 1, The Dollar 1,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    July 27, 2011
    4:00 - 5:00pm EDT  

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>>neil: the picture of a market between the rock and a hard place. the rock fears of a slow down and companies from corning to emerson saying it ain't looking too electric and washington is stuck in the same place, the doubt deal that is still for now dead and a dow jones industrial average staggering off 200 point as day, making it 500 points in the latest sell off. and the week is still young the we have two more trading days left. welcome, everybody, you have heard about the sell off and now the carry on of the doubt. so well kick things off a little
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bit differently today because, frankly, in the midst of the debt ceiling hysteria, i step back and say, this is long overdue perspective. i have heard so many distortions and lies, so little time. so, six days from supposedly doomsday, i will be the first to say, no doomsday. why not calm down and be clear. we will not default in the debt ceiling is not raised by next week. we will default if we miss payments to bondholders in ex-week or any week. that never changed. be clear point two: republicans are not the ones who risk not paying the bondholders in that event. only the president has the power to pay or not pay the bondholders. point three: missing a debt deadline does not mean the government is dead. taxes will still be coming out of your check, so tax revenue in washington will be alive and
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well. be clear point four: the credit rating agency will not give us a pass if we just meet the deadline, they will still cut our debt if there is no real spending restraint attached to that deadline. be clear, point five: we're on the brink of a downgrade not because we are bumping up against the deadline but because of the spending and deficits that led up to this deadline. point six, you cannot say tea partyers are holding up the process because they will not budge on taxes and not say the same about the liberals because they will not budge on spending. be fair. point seven, democrats cannot say republicans are playing licks not wanting to raise the debt limit now, but they weren't five years ago when not a single one voted to raise the debt ceiling them. the president cannot say he is the adult at the table and then
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hold presses blaming republicans for acting childish. and point nine: you cannot say spending is not a problem and then say you worry about whether you can send out 80 million checks to people getting paid to the government only a small portion of social security and medicare. that is a lot of checks. a lot of government. a lot of the problem. and be clear point ten, mr. president, this is for you: you cannot say the other side has brought us to the bring on this budget when your side did not offer a budget. not this year. not last year. and not the year before last year. so, that my friends is where we stand. sorry to go on and on but that is where we stand. that is the real deal. of government deep in debt. two sides trying to fight it out. both sides playing politics. nothing unusual is holding the process hostage. business as urge is what is holding this process hostage.
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here to help sort out the fact from the fiction is the best business reporter open the planet. we all feed to take a chill pill. >> a default is catastrophic. when you default people talk about going down to from aaa to aa. >>neil: but we are not six days from that. >>guest: the president has the power to pay the bondholders. it will not look pretty. we spend a lot more than we take in. we spend $2 trillion a year, $3 eight or nine a year and we take in $2 trillion and we have to make up the difference. and we can pay off bondholders, service on the debt is $200 billion. of the $2 trillion we take in. >>neil: the best way to make an analogy, a spouse or major
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paycheck earners like losing their job and you pay the most important bills first, represent, mortgage, et cetera, our debt payments are up there, presumably social security and medicare and soldiers and there is still money for other stuff but not as much. ing until we reach a settlement. we don't have to fall apart. on tuesday. on the 2nd. and there are reports that it is not tuesday anymore it could be a week from tuesday they could have more money but the treasury denied that but this are reports--. >>neil: i think it is arbitrary. >>guest: it has been arbitrary all year. >>neil: but how office den we have often how often we have been through the charade. that is what is good. >>guest: people think this is horrible, and i get all the e-mails about government dysfunction, finally, finally, we are having a debate, someone is saying let's debate it, let's fight about something that
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matters. the size of government and how you pay whether you liberal and believe in more taxes or conservative and cutting, or in the middle and you want a combination, the voters have a choice. in 2012, this is a great debate to be having right now. >>neil: but if you push past the deadline do you risk spoiling the debate? i say in. >>guest: we will lose our debt rating and going to aa rate. even with a deal. they are going out there warping about this because of that issue, but, you know, it -- gust say they extend the debt ceiling and they cut $1 trillion and that is not good enough, why downgrade now? are we that much worse now than six months ago? >>neil: why ahead of august 2nd? >>guest: it seems arbitrary. and, as we gist reported on the fox business network, they will
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come under other committee discussions on the downgrade issue. and you if dot no get fox business network, demand it. democrats ratcheting up the rhetoric. >> how many time dozen you have to throw red meat to the extreme right? >> the right wing extremists that were swept into office. >> household economies of every american is being held hostage. >> democrats laying into tea party backed republicans of extremists holing the country hostages and the congressman has had enough.
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so, you are, i guess, a hostage taker, congressman? how do you feel about that? >>guest: i have been called worse, but equally inaccurate. i enjoyed all ten of your points especially where you highlighted a mere five years ago that calamity had a different definite nation because senator harry reid and senator biden and senator harry reid voted against raising the debt ceiling. >>neil: that is startling. but the doom and gloom of rushing to a deal that could be bad, i know what happened when i would rush term papers in college oruche the night before to study for an exam and i didn't do too well. >>guest: me, either, defaulted versus naught defaulting is false, the real thing is default versus downgrade and if we did
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not do something systematic not just august 2nd or august 9th if we did not change the way washington spends we will have this information for congresses to come, and is what we are called reactionaries and we are call a whole host of negative and some accurate things and i think what we really are interested in is having transformative generation am systematic change in the way washington does business. >>neil: congressman, what do you say to those who argue now is not the time to do that? now is not the time to play with it? what did you say to that? >>guest: i would grow. the time was about 10 or 15 years ago. but we missed that window of opportunity. and i'm not going to be part of kicking the can down the road for another six months to make it a presidential election issue for another two years so we can get re-elected. there is in time like the president. we are $14 trillion in debt
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debating whether to go $15 or $16 trillion in debt, i grow, the time to debate this was back when we were expanding the size of government, and saw the scope of government but i wasn't here there i was a prosecutor. which is a job i enjoyed and i am here with my colleagues now who despite what the national narrative is about us, we are every day folk whose just want to see washington stop spending that much more money than they bring in. >>neil: thank you, congressman. as i have indicated if you blame the tea party for holding this process hostage because they don't want to spend as much and you are not going to say the same about the base of the president's party who are urging him not to cut as much you are not being fair. if you want to blast one side, blast both sides. but that is not fair. stocks down four a 4th straight day. is it the debt mess? or an economy that is still a mess? as our fox business network has been reporting, we have a slow
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down coming that having no do do with the debt mess. >> that is right and we had bad durable goods number a sign manufacturing is weak, the second largest drop in three months in durable goods. that is not good. the manufacturing sector has been helping to led a very weak recovery. we also are seeing gold still trending higher, at around $1,600 an ounce and some say it could top $2,000 by the end of 2012 and by 2020, possibly $5,000 an ounce. also, the dollar is still very weak, as well, and it touched a low against the basket of other countricies and is dropping versus the yen with japan having its own problems and so the debate new on wall street is whether we get a negative revision for a quarter, what we saw in the years 2000 and 2001,
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one negative quarter on g.d.p. growth, and that is the debate on wall street. >> i will show the big board again if we can, a lot of you will look at this and say 200 points because washington is not doing anything, that is part but it is not the majority of what is happening here. a lot of this is having to do with concerns of slow down is happening and we could revisit a serious slow down, if not a double dip, companies lime emerson saying things have turned south. i am not dismissing what is beginning on in washington but for wall street the front burner issue is the concern of the double dip. that is the reality. and, then, there is this. (inaudible) fabio challenges you at 9:00
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a.m. on the internet. >>neil: taking on the old spice guy and now, he is responding. >> i accept your challenge. >>neil: if you think that is spicy enter another, and we have the real spice, live from washington. me. we are ear all over the spicy hot debt battle with some of the biggest names in the business kicking off at 4:00 p.m. with mark levin and many others, the big budget brawl continues, alive this weekend on saturday, with alan simpson and scott walker. and the fellow in the cow by hat. he will be with me is for him to get out of bed is reason enough for our country to take note.
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we're there. hope you. stock scaring granny with the checks and give federal workers some time off instead? who says the speaker's bill is going south? he has something to say on that. live next. miss gopie is the besr i ever had. she's amang, i love her. [ de ] i'm teaching jasmine ap biology. i knew she had the talent... i always pushed her. [ jasmine ] her class you literally have to think, le it takes so long to do her homework. [ jade ] she's gained the confidence that she can achieve anything. [ jasmine ] i'm going to be aediatrician... and i'm going to make this dream come true. a 100 percent. ♪
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is without equal. ben your lega. get an auto insurance quote. u.s.a.a. we know what it means to serve. >> congressman, i'm not a lawyer. >> so we will go to him if you cannot answer. >> if there was another standard i would like to know what it is. >> if you want me to keep going i will. >> what should it be? >> the methodology incorporates--. >> i'm not talking methodology, but common sense. >> have you changed your ways?
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>>neil: more congressman have you changed your ways? the guy's rating the nation's debt being put on the hot seat today by the guys helping to racket up. this would be like me showing up at a restaurant here and telling everyone, stop the dessert. anyway ... much thinner judge napolitano fired up. hypocrisy knows no bound. >>guest: we laugh, it is loveable but it is very serious and very sad. these guys members of congress are looking to blame the operatorring agency, the people whose job it is to express an opinion on the worthiness of american debt for the crash in 2008 and for the stock market going down. when they are the ones, the members of congress, who are addicted to spending money we don't have. >>neil: leaving aside they were slapping the rating
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agencies and for not being on top of the meltdown and not seeing what would happen to real estate now, fair enough then but now going after them for a variety of other reasons. i'm just saying consistency begs consistency. napolitano they express an opinion, you can accept the opinion, you can reject the opinion, you can challenge the opinion. that opinion is protected by the first amendment. they get together and have the economist says the american government debt is worth this or that and members of congress do not like it, go to another rating agency. the first amendment lets them express the opinion they want. >>neil: were they trying to pressure them? >>judge napolitano: timing is perfect for pressure. the last thing the heads wanted is for the rating agency to downgrade the government debt
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between now and august 2nd and as we talked in the break, it should be downgraded. because the government--. >>neil: this is not republican or democrat, we no more deserve a aaa rating than i do a national fitness award. so get real. and that's reality. we have not deserved this for years. >>judge napolitano: congress is putting its fingers own shoulders and saying you are not really going to drop the aaa rating, are you? the first amendment lets them say anything they want about america's debt and the morance they are the better off we will all be congress cannot take its medicine. >>neil: thank you, judge. that is what makes you a star on fox business network which if you do not get, demand it. if you don't get it you will cry. do not think there is tax hike to this debt deal, my next guest
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>>neil: the president wants a balanced approach in dealing with the debt and my guest says he has one side taken care of: the tax hike side. don't forget the tax hikes that are already built into the new health care law. the former new york lt. governor joining me right now. explain. >> you that is right the president has a plan, four words: balanced approach, shared sacrifice, but they turn out to be weasel words. he says we need to combine the spending cuts with tax increases. and he must assume we are stupid enough not to remember that just 16 months ago, the obama health law raised our taxes by $503
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billion. >>neil: give me a couple of ideas. >>guest: medicare payroll goes up from 2.9 percent to 3.8 percent for those over $250,000 occurring in 2013 and a new medicare unearned-income tax will hit you if you sell your home and make a profit or sell stock or earn other kinds of "unearned-income," and taxes on an away of health products and consumer products that come out of the consumer's pocket, and a 40 percent excise tax on health plans. you have not felt the effects because they do not go into effect until 20 thin or later but it is out of your pocket because that is the law. the tax height side of the balanced approach has already happened. >>neil: the administration would argue that has to be
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separate from the debt deal. >>guest: that like going out for dinner with a pal and you pick up the tab and the fix time he says, wait, let's split, and you say waits i paid last time. that is it much the tax hike is baked into the deal and it is time for the washington spenders to cut spending. >>neil: what is scaring grandma. >>guest: shared sacrifice. well, that sounds fair. but don't call in seniors to make the sacrifice because under the obama health law, medicare future funding was cut by $500 billion over the next 10 years. $500 billion. taken out of medicare and moved over to fund a vast increase in medicaid and new subsidies for middle class families. for new entitlements so when the president says shared sacrifice, fine, but depth go after grandma. start with the two entitlements you just created or how about
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lowering the federal workforce. washington is fat and happy under this president 107,000 new special jobs. so if we are going to cut somewhere how about the bloated federal workforce rather than grand ma. >>neil: what are the logistics if we are facing next tuesday we did not immediate the deadline and everyone says we will default, we will default, the government could then prioritize what bills to pay. >>guest: there will be 75 percent of the money to go on as unusual, first priorities are paying the interest on the debt, the constitution requires that. >>neil: because not paying it is a default? >>guest: right. and social security we are fine until 2038. so when you hear threats that grandma won't get the check that is in the president decides thought sanity. >>neil: he has that power. >>guest: that would be a
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politically ... stupid. >>neil: so what happens? >>guest: a big mistake is asking for a debt increase two or three times what is usual to take us through the 2012 election, and that is a mistake. because on the debt ceiling it is raised every six months or a year and he says do not let politics get into it and it is the key political issue of our generation, the size and cost of government. >>neil: but he is saying he does not want to go through this? >>guest: of course he does not want to run on his record but runaway from it. >>neil: thank you very much. we hear one thing from one side and one thing from another, and i am just weighing up this morning, probably because there was nothing for breakfast i woke up in a bad mood.
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when we come back, house speaker boehner getting strong support from a lawmaker and now the tide is returning, he is a reason? congressman west is here. and only here. turn left. you have arrived. sweet belt. e-reader for textbooks. gps. video camera for lectures. game pad. have you considered this ?
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that's right. a $1 million service guarantee. don't wait until you become the next victim. call now to try lifelock risk free for 2 full months. that's right, 60 days risk free. use promo code: norisk. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this document shredder to keep your personal documents out of the wrong hands. a $29 value, free! get the protection you need right now. call or go to lifelock.com to try lifelock risk free for a full 60 days. use promo code: norisk. plus get this document shredder, free! but only if you act right now. call now! lifelock service guarantee cannot be offered to residents of new york. >>neil: six days to go and the debt fight is just heating up. house speaker boehner gaining support for the retooled plan and the white house and
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democrats say it is dead on arrival and the chief congressional correspondent has the latest. mike what is going on? >> a strong push by house republicans to make sure they have the votes for speaker boehner's debt plan. they need 217. house majority leader cantor said "we're coming along." today, the senate republican leader offered this show of support for the boehner plan. >> the fact is republicans have offered the only proposal at this point that attempts to get at the root of the problem. and which actually has a chance of getting to the president's deck. that is why we will continue to press for the legislation speaker boehner has proposed. >>reporter: the democrats say it does not matter if the boehner plan passes the house of representatives, some have called it dead on arrival even before it arrives and senate majority leader harry reid will altar the plan if it makes it to the united states senate. and here is new york democrat schumer and his take on the
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plan. >> the speaker's wasting precious time. every day he spends twisting arms in his caucus we move closer to catastrophic default. how many times does he have to throw red meat to the extreme right of the caucus to please them? enough already, let's get moving and get something real done. >>reporter: time is a critical factor. we are inside one week and i have talked to a lot of folks and they are not sure how it will play out. the white house has suggest add veto threat, but, a lost republicans say, well, if it passes the house, we will see what the senate does and see if there is suddenly as the clock is ticking a show of support for the plan. >>neil: thank you, mike. a question that everyone wants to know: does house speaker boehner have the vote service this much we know. he now has one tea party guy with a bill being retooled to include more spending cuts $he get more guys like him,
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republican congressman west of florida. congressman, if speaker boehner has retooled this to your liking, and it seems he has, he has your vote? >>guest: yes, he does. i have been very forthright saying that and thank you for having me on, because i look at it this way coming from my military background: we can it is around and we can talk about coming up with the 100 percent plan, but we wasting time. what i believe, this is the plan that gets us to 70 percent to 75 percent. does it have everything i with like to see? no. but it gets to the core of us making sure that we don't have any default on our debt. we do start to cut spending. we do cap spending. and we do get to a balanced budget amendment. we will have separate balanced budget amendment votes after the boehner plan is passed in the house of representatives. >>neil: talk about wasting time this is dead on arrival in the senate if it is even taken up. whatever the merits and however
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it might advance ... isn't it just a waste of time? >>guest: it is not a waste of time. the most important thing that the american people should start asking themselves, what is the credibility of harry reid and the senate democrats? you are talking about an individual and his senate democrat cohorts in 818 days or 817 days they have not passed a budget. that is the one constitutional mandated thing they are supposed to do. and they keep talking about how everything is dead on arrival. well, my question to harry reid: where is your plan? where is your c.b.o. scored plan? if you don't have a plan, you need to pass or we will send over to you and not have a repeat of last week when you tabled and cut, cut, and balance land and this where be ended. we would have the spending control measures the membership thing are necessary. >>neil: well they scored speaker boehner's plan and it has been adjusted to reflect
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that, and pricing out what you make at least of mr. reid's plan but in both cases they did not produce the cuts either gentleman thought they would. regardless of who is right and who is wrong, if that is the case and we don't have a backup plan, we are not going to meet the deadline, right? >>guest: well, this is the backup plan which is for harry reid and the senate to pass this and when it gets to the president's desk, for him to sign. this is more time--. >>neil: harry reid says he won't and the president says he won't, so i don't know who is right. but i guess do any of you have a fall back plan? is there a fall back plan? >>guest: well, how many fall back machines? why do people keep coming to the house g.o.p. thing of the amount of debt increase that has come since the obama took over. the in credit deficit he has run over the he years.
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we are not going to allow a clean debt ceiling to be raised. this is the first time we have talked about raising a debt limit with all the spending cuts. we had a vote on a clean debt limit and it did not go anywhere and it was a bipartisan failure and even his budget did not get a single vote in the senate. and we sent over cut, cap and balance and now we send over the boehner plan. i don't think it is on the house g.o.p. but the own onous is on the house democrats. >>neil: i'm afraid to go to washington on friday because of what happened last time i was this. remember this? but i have a country to serve. somebody's got do do it. get ready, ladies, back to washington, dc starting friday
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at 4:00 p.m. and we kickoff with constitutional attorney mark levin and ron johnson and blue dog democrat and staying into the weekend with our latest budget brawl, and scott walker, trying to clean up his state budget mess, and former c.e.o. of h.p., and the i-man, and too many more to name here and i don't want to give it all away and ladies why want to give away my compacts location given what happened last time in washington, dc. meanwhile, reid, boehner, stossel, guess who is showing washington how it's done? that give. next. [ jon ] we don't just come up here for the view up in alaska.
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excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. >>neil: lawmakers have six days to figure how to lift the
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debt ceiling. too bad they are not john stossel because he has a plan to wipe out the entire deficit in just one day. >> the day is tomorrow when my show is on but you have to make some real cuts. and i'm prepared to do that. >> we are very economical. but $3.8 trillion and when boehner was asked name a specific program, he could not do it. we can do it. the education department. republicans used to say we should get rid of that. they don't say that. that is $90 billion. they have made it worse shipping the money to washington back. and bigger stuff, redefining the mission of the military $700 billion. do we need 60,000 troops in germany, south korea? let the rich countries defend
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themselves. raising the retirement age. indexing social security. and medicare to inflation. agriculture subsidies. there is so much in this budget to cut. would you miss the labor department if it went away? the commerce department? >>neil: your point is there is ample room to cut but they don't have the will or guts it do it or they are afraid of the outcry. >>guest: they are screaming. ethanol subsidies, the environmentalist who pushed them in the first place say they are wrong and yet they are sred to get rid of them now. >>neil: i worry about in this self induced panic environment, and both sides play the game, i mentioned earlier in the show, that the risk is you come up with a crappy idea and you come up with a worse deal and then we are back to where we were. >>guest: i fear that will happen.
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what is the panic about the talk, are the rating ages going to downgrade our debt? that won't be good but are the bond investors stupid that they don't know the bureaucrats who fail to predict the housing crisis are now going do make adjustments? they are still willing to give us $10,000 for 10 years and all we have to give them is 3.3 percent interest over 10 years and promise to pay it back. >>neil: the argument is they do not see the hell coming or appreciate the possibilities. >>guest: they have not noticed all this? >>neil: they do not see it really, really happening. >>guest: that is possible, but i find it hard to believe. >>neil: i agree. >>guest: the markets are saying, this big deal. they still collecting $2.2 trillion. that is enough to pay. >>neil: if we have a downgrade, are all bets off? >>guest: i don't.
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>>neil: i would welcome a downgrade. it would be the pain from which we have a gift. >>guest: maybe that would wake people up. >>neil: you can catch general -- john on thursday night. this came from my hair cut budget. >>guest: we can see that. but we can compromise on that. >>neil: you can catch john tomorrow night, and, meanwhile, the real problem over the debt problem is how the mainstream media is covering this. the headlines speak volumes.
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>>neil: take a look at the headlines. you just think it was just republicans or speaker boehner, and they are screwing this up. butthead lines blasting them, or anyone, anyone, anyone who is looking for spending restrainand that is why the fighting is going on and why our country can go down the tubes. pat is not surprised. >>guest: this is the policemen class media coverage, we like spending, we like big government, it is good. it is bad if you try to cut it. and they, most of the media, most of the media has abandoned its job of tomorrowing the truth and they are siding with the democrats. >>neil: you blame both sides?
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>>guest: this is the corrupt party and the super party at work. the republicans could not, the freshmen in the house, like what was said about palestinians never miss an opportunity to miss an opportunity when it is in their hands. the president is trying to get in the game doing poll tested questions but they don't -- and the democrats--. >>neil: but he is getting a slide edge. >>guest: the problem--. >>neil: who gets the better of this? >>guest: none. none. none. the common word during my week of focus groups in three cities in 40 hours with groups of people. "children." they don't care about us or the country. the anger. and the despair of a government that they have they believe no say in. this has done more as i said for
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several weeks done more to open the door to someone like a donald trump or someone running as an independent or other people saying, we have to get rid of them all. right now the attitude is they are all alike and they dislike everything they are doing. they think they are justs as i have said, fiddling while rome burns. we knew this was coming. and the public doesn't get all the facts but they got the temperature. >>neil: all we know, in a rush and a fear and hysterical environment my big fear is that we produce something that stinks and it gets really, really bad, and i would rather be late on a deadline than make the deadline with something that is bad. >>guest: the problem is the president is stir things down so much. >>neil: he is scaring people. >>guest: the world will end. we will not pay social security. everyone is playing politics. and he wants to get re-elected
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and trying to be bill clinton two. and no one has produced a plan. >>neil: so why does that not come up? believe me, the republicans have exclude up, too, and what should have gotten our aaa rating downgraded years ago in the last administration, is it just easier to blame a group than to call it a day? >>guest: because the people and the media if you wanted do understand, they are bias. they are operatives. their operation is in defense of a political class and a big government that they like and support and their attitude is, anyone wants to cut budgets or money they are yahoos and you know what? the country really dislikes them intensely. >>neil: pat caddell one of the smartest pollsters this country
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has ever seen. why do we leap right away, this takes the discipline away to address the cause. >>guest: there are a lot people who are not faring their fair share who could do better. >>neil: more than half the people in this country who are not paying at all. now, remember my ten myths on the dealt crisis at the beginning of the shop? i left out the 11th. next. [ music playing, indistinct conversations ]
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sure, but let get a little information first. for toys, say two. toys ! the system can't process your response at this time. what ? please call back between 8 and 5 central standard time. . >> all right. we're going to put all this up on our website very soon, so you can see point by point what i'm talking about, but at the start of the store, we're not on the verge of default, just missing a deadline, that no one party is holding this nation hostage, that business is usual, but
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there's an 11th myth that i left out. perhaps it's the most important one, the myth that we need more revenues, more taxes, that as new york democratic congressman elliott engle put it to me last weekend, it is only fair that those who can pay more taxes do pay more taxes, and should pay more taxes. now, leaving aside the rich already pay a lot in taxes, what about the more than half of american households that do not pay any taxes at all. it's true. is that fair? and even if it is, is it fair that anyone, rich or poor, or anywhere in between, pay more for essentially a crappy product? and is it fair if they do pay more for this after after forementioned product do not? is that fair? is that after? no. look, i'm all for a progressive tax rate, but this is progressing toward insanity. look, i'm not saying the truly
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poor should pay taxes, but you cannot tell me more than half of the american households not paying taxes are truly poor, because to change this game, my friend, everyone, or darn close to everyone, you can't keep skinning the rich, or you'll lose the rich, or pretty soon you'll lose the country. it's the biggest myth of all to say the rich have to pay their fair share when you ignore half the folks in this country aren't paying anything at all. we're on the brink, not because politicians are holding taxpayers hostage, they're holding something else hostage. the truth. that's why it's incumbent upon me to put my own needs aside, my own personal safety concerns aside, to enter the belly of the beast in washington, d.c., and rip this all over again. that was the last time i was